This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SolarCity Provides Renewable Electricity To East Bridgewater, Mass.

Stocks in this article: SCTY

EAST BRIDGEWATER, Mass., Sept. 5, 2013 (GLOBE NEWSWIRE) -- SolarCity (Nasdaq:SCTY) is providing solar electricity directly to the town of East Bridgewater in a move that will significantly cut energy costs for the town. SolarCity has provided the town with more than 10,000 solar panels, and the town pays SolarCity for the electricity the panels produce at a discount to its local utility rates. At 2.45 megawatts of generation capacity, East Bridgewater's project is among the largest solar installations in Massachusetts. The solar panels are expected to produce more than 3 million kilowatt hours of electricity each year—enough power to supply about 350 homes. The town is expected to save as much as $2 million on energy costs over 25 years.

"Massachusetts has benefited from a major increase in solar energy thanks to projects like this one that protect our environment and create jobs," said Governor Deval Patrick. "My thanks go out to the East Bridgewater community for their leadership in adopting these new technologies and investing in a clean energy future that will benefit generations to come."

Electricity generated by the solar field will be sent to National Grid, and result in net metering credits, which will be used to reduce the town's electricity bills. Over the 25-year lifetime of the contract, it is estimated to save the town up to $2 million in energy costs. SolarCity, with Massachusetts operations based in Marlborough, makes it possible for homeowners, businesses, nonprofits and municipalities to have their solar installed for free and pay less for solar electricity than they pay for utility bills.

"The residents of East Bridgewater will be enjoying the benefits of this agreement for decades to come," said Brian Connors, Chair of the East Bridgewater Board of Selectmen.

"We're extremely happy to be helping East Bridgewater cut their energy costs with clean, affordable solar power," said Lee Keshishian, SolarCity's East Coast Regional Vice President. "By saving money, creating jobs and reducing pollution—solar power is win-win-win for East Bridgewater and Massachusetts."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs